Indowind Energy IPO opens on 21 August 2007

Indowind Energy is planning to raise Rs 68.7-81.2 crore through an initial public offer (IPO) of shares. The IPO will have a price band of Rs 55-65 a share.

The 1.25 crore share offer would open on 21 August 2007 and close on 24 August 2007.

The proceed would be deployed to expand wind power generation capacity, buy equipment, foreclose lease accounts with banks.

It currently supplies wind power to a state utility and a few companies in the Karnataka.